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CATALYST EQUITY RESEARCH REPORT ™ Weekly Research Highlighting Activist Investments
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Hedge Fund Solutions, LLC © 2003 – 2017 Page 2 of 13
HEDGE FUND SOLUTIONS CATALYST EQUITY RESEARCH REPORT ™
HIGHLIGHTING ACTIVIST INVESTMENTS
Week Ending March 3, 2017
SYMBOL COMPANY INVESTOR
ABCO Advisory Board Company Elliott Associates
ARNC Arconic, Inc. Elliott Associates
EEI Ecology & Environment Mill Road Capital
FRGI Fiesta Restaurant Group JCP Investment Management
PCF Putnam High Income Securities Bulldog Investors
QTM Quantum Corp VIEX Capital
RMTI Rockwell Medical, Inc. Richmond Brothers
SEAC SeaChange International VIEX Capital
SGF Aberdeen Singapore Fund Bulldog Investors
SWZ Swiss Helvetia Fund Bulldog Investors
TNGO Tangoe, Inc. Marlin Management
WNEB Western New England Bancorp Clover Partners
HEDGE FUND SOLUTIONS (HFS) provides investment research, strategy and stakeholder communications consulting to companies and
investors interested in, or involved with, shareholder activist campaigns. Since 2001 HFS has become the trusted advisor to numerous
institutional investors, CEOs and board members worldwide. HFS also administers The Official Activist Investing Blog™, the definitive source for activist shareholder information.
Catalyst Investment Research™ is a portfolio of activist investing research products that combine company-specific shareholder activism research with deep value investment analysis and access to industry insiders.
HEDGE FUND SOLUTIONS’ PORTFOLIO OF ACTIVIST INVESTING RESEARCH INCLUDES:
Daily Email Alerts
Weekly Summary of Activist Investments
Quarterly Buying Analysis of Top 50 Activist Investors
Company-Specific Shareholder Activism Analysis (combining shareholder activism & deep value company analysis)
Special Reports on Activist Investing
400+ Page Shareholder Activism Report & Regularly Updated Shareholder Activism Resource Portal
To Learn More: Download a brochure http://www.hedgerelations.com/CIR/CIR%20Brochure.pdf
Hedge Fund Solutions, LLC © 2003 – 2017 Page 3 of 13
HEDGE FUND SOLUTIONS CATALYST EQUITY RESEARCH REPORT ™
The Advisory Board Company (ABCO)
Activist Investor: Elliott Associates
Investor Info Catalyst Info
Shares 988,500 Catalyst: On March 2, 2017 ABCO entered into a settlement agreement and non-disclosure agreement with Elliott with
regards to ABCO potential sale and to end Elliott's threatened proxy contest.
https://www.sec.gov/Archives/edgar/data/904495/000101359417000228/advisoryex991-022717.htm
Comment: We initially covered ABCO on January 11, 2017 when Elliott disclosed an 8.3% stake in ABCO through stock
(2.5%) and options (5.8%)
On February 6, 2017 ABCO announced plans to explore strategic alternatives
On February 9 2017 Elliott disclosed it has increased its stock ownership from 2.5% to 4.1% while still
maintaining an overall economic exposure of 8.3% (i.e. 4.2% options)
Legal counsel to Elliott Associates
% Outstanding 2.5%
Cost Basis Not Avail
Company Info
Share Price 45.30
Revenue 803M
Market Cap 1.8B
Enterprise Value 2.3B
Net Cash -495M
EBITDA 155M
52 wk. range 24.85 – 51.23
EV/EBITDA 14.9
Continue to Next Page
Hedge Fund Solutions, LLC © 2003 – 2017 Page 4 of 13
HEDGE FUND SOLUTIONS CATALYST EQUITY RESEARCH REPORT ™
Arconic, Inc. (ARNC)
Activist Investor: Elliott Associates
Investor Info Catalyst Info
Shares 58,556,969 Catalyst: On February 28, 2017 Elliott increased its ownership (through stock and options) to 13.3%
On March 1, 2017 Elliott revised its shareholder presentation (currently version 5) to correct previous errors
On March 2, 2017 Arconic added a new board member and issued a letter to shareholders from the independent
directors reinforcing its support for the CEO.
https://www.sec.gov/Archives/edgar/data/4281/000119312517067864/d277477ddefa14a.htm
Comment: We initially covered ARNC on November 4, 2016 when Elliott disclosed a combined economic exposure to 9%
of ARNC and stated that, following the recent separation from Alcoa, the stock is dramatically undervalued.
On November 15, 2016 Elliott increased its economic exposure from 9% to 10% including Stock, currently
exercisable Options and other Derivatives.
On December 8, 2016 Elliott increased its economic exposure from 10% to 11.1%. On January 25, 2017 Elliott
increased its economic exposure in ARNC to 12.0% (10.3% stock and 1.7% derivatives)
On February 1, 2017 Elliott sent a letter to shareholders detailing its dialogue with the company to-date,
explaining the need for change, outlining the scope of opportunity, introducing its candidate for CEO, and
introducing its five nominees
https://www.sec.gov/Archives/edgar/data/4281/000092189517000133/dfan14a10168012_02012017.htm
On February 8, 2017 ARNC launched a website to communicate with shareholders regarding the 2017 annual
meeting www.arconic.com/global/en/investors/annual-meeting.asp; ARNC issued a press release from its
independent directors unanimously supporting the company's CEO. ARNC also issued a press release
questioning Elliott's grasp of its business, highlighting Elliott's shifting data and valuation. Elliott sent a letter
to the board questioning the CEO's track record.
On February 13, 2017 Elliott issued a press release renewing its call for Arconic's board to act in light of
shareholder support.
https://www.sec.gov/Archives/edgar/data/4281/000092189517000317/dfan14a10168012_02132017.htm
On February 21, 2017 Elliott updated its proxy contest website www.NewArconic.com with additional
information about its preferred CEO candidate
On February 23, 2017 Elliott sent a letter to the independent directors of Arconic laying out the track record of
its preferred CEO candidate
https://www.sec.gov/Archives/edgar/data/4281/000092189517000468/dfan14a10168012_02232017.htm
Legal counsel to Elliott Associates
% Outstanding 13.3%
Cost Basis Not Avail
Company Info
Share Price 28.09
Revenue 21B
Market Cap 12.4B
Enterprise Value 19.1B
Net Cash -6.3B
EBITDA 1.5B
52 wk. range 16.75 – 30.69
EV/EBITDA 12.6
Continue to Next Page
Hedge Fund Solutions, LLC © 2003 – 2017 Page 5 of 13
HEDGE FUND SOLUTIONS CATALYST EQUITY RESEARCH REPORT ™
Ecology & Environment, Inc. (EEI)
Activist Investor: Mill Road Capital
Investor Info Catalyst Info
Shares 463,072 Catalyst: On March 2, 2017 Mill Road filed its preliminary proxy statement seeking to elect two new directors to the
board https://www.sec.gov/Archives/edgar/data/809933/000119312517066030/d321735dprec14a.htm
Comment: We initially covered EEI on July 23, 2015 when Mill Road indicated a willingness to purchase EEI for $13-$14
per share.
On October 28, 2016 Mill Road nominated two individuals for election to the board.
https://www.sec.gov/Archives/edgar/data/809933/000119312516751825/d269893dex4.htm
% Outstanding 15.45%
Cost Basis Not Avail
Company Info
Share Price 9.85
Revenue 101M
Market Cap 42M
Enterprise Value 31M
Net Cash 12M
EBITDA 4M
52 wk. range 8.75 – 10.70
EV/EBITDA 7.0
Fiesta Restaurant Group (FRGI)
Activist Investor: JCP; Bandera; Radoff; Schechter (the “Investment Group”)
Investor Info Catalyst Info
Shares 2,272,162 Catalyst: On February 28, 2017 JCP disclosed it has increased its ownership from 7.1% to 8.5%
Comment: We initially covered FRGI on September 16, 2016 when several investment funds formed a group with an
aggregate 6.2% ownership and disclosed their belief that significant operational and strategic opportunities
are available to enhance value.
On October 17, 2016 FRGI sent a response to the Investors' request to settle a potential proxy contest by
adding two new directors and the declassification of the board. In the letter, FRGI said that entering into any
settlement negotiations at this time is inappropriate.
https://www.sec.gov/Archives/edgar/data/1461945/000119380516004114/e615492_ex99-1.pdf
On January 30, 2017 JCP announced plans to nominate three directors to the board
https://www.sec.gov/Archives/edgar/data/1461945/000119380517000070/e615699_ex99-1.htm
On February 9, 2017 JCP issued a press release announcing that the former CEO of Carrols, which owned
Fiesta through 2012, has endorsed JCP's efforts to elect three new directors to the board
https://www.sec.gov/Archives/edgar/data/1461945/000092189517000253/dfan14a08569030_02092017.htm
Legal counsel to the Investment Group
% Outstanding 8.5%
Cost Basis Not Avail
Company Info
Share Price 19.80
Revenue 712M
Market Cap 529M
Enterprise Value 598M
Net Cash -69M
EBITDA 87M
52 wk. range 19.40 – 38.54
EV/EBITDA 6.9
Continue to Next Page
Hedge Fund Solutions, LLC © 2003 – 2017 Page 6 of 13
HEDGE FUND SOLUTIONS CATALYST EQUITY RESEARCH REPORT ™
Putnam High Income Securities (PCF)
Activist Investor: Bulldog Investors
Investor Info Catalyst Info
Shares 1,497,930 Catalyst: Bulldog sent a letter to PCF nominating 7 candidates for election to the board and also submitted a proposal for
shareholders to vote to authorize a self-tender offer close to Net Asset Value, and if more than 50% of
shareholders tender, then open-end the fund.
Comment: We initially covered PCF on February 3, 2017 when Bulldog disclosed a 10.77% stake and announced they
were in talks with the company about ways enhance value.
% Outstanding 11.27%
Cost Basis Not Avail
Company Info
Share Price 8.62
Revenue N/A
Market Cap 132M
Enterprise Value N/A
Net Cash N/A
EBITDA N/A
52 wk. range 7.18 – 8.79
EV/EBITDA N/A
Continue to Next Page
Hedge Fund Solutions, LLC © 2003 – 2017 Page 7 of 13
HEDGE FUND SOLUTIONS CATALYST EQUITY RESEARCH REPORT ™
Quantum Corp. (QTM)
Activist Investor: VIEX Capital
Investor Info Catalyst Info
Shares 29,531,722 Catalyst: On March 2, 2017 QTM entered into a settlement with VIEX to decrease the size of the board from nine to
seven members and mutually agreed upon the seven candidates up for election at the annual meeting.
https://www.sec.gov/Archives/edgar/data/709283/000120677417000663/quantum3220611-ex101.htm
Comment: We initially covered QTM in our November 2, 2014 Catalyst Research Report, highlighting Starboard’s
15.90% (via stock and convertible debt) “active” stake and announced plans to engage with the Company
regarding board representation.
Starboard subsequently increased its “active” ownership stake in QTM from 15.9% to 16.4%
On May 15, 2013 QTM entered into a settlement agreement with Starboard in which it increased the size of the
board from 8 to 9 and added a Starboard rep. QTM also added 1 rep from Private Capital Management (an
8.25% shareholder)
On May 9, 2014 Starboard nominated 6 individuals for election to the QTM board
On July 29,2014 QTM entered into a settlement with Starboard agreeing to give them 4 of 9 board seats.
On May 6, 2015 Jeff Smith from Starboard resigned from the board. Starboard exercised its replacement
rights and appointed a new representative.
On December 28, 2015 VIEX Capital disclosed a 5.5% "active" stake in QTM
On January 21, 2016 VIEX increased its ownership to 7.8%; On February 2, 2016 VIEX increased its
ownership to 9.9%
On April 28, 2016 VIEX sent a letter to QTM announcing plans to nominate director candidates to the board.
On June 2, 2016 VIEX increased its ownership from 9.9% to 11.2%; On June 6, 2016 VIEX nominated five
candidates for election to QTM's board
http://www.sec.gov/Archives/edgar/data/709283/000101359416001085/quantumdfan14a-060616.htm
On September 27, 2016 QTM entered into a settlement with VIEX, granting board observer rights to two of
VIEX's nominees. https://www.sec.gov/Archives/edgar/data/709283/000120677416007244/quantum2935539-
ex101.htm
On December 6, 2016 QTM extended the board observation rights for VIEX's two representatives until
February 1, 2017
On February 6, 2017 VIEX nominated 5 to the board and issued a press release outlining the reasons for its
proxy contest.
https://www.sec.gov/Archives/edgar/data/709283/000101359417000103/quantumex99-020617.pdf
Proxy Solicitor to Quantum
Legal counsel to Starboard Value
% Outstanding 11.0%
Cost Basis 0.70
Company Info
Share Price 0.95
Revenue 505M
Market Cap 260M
Enterprise Value 374M
Net Cash -113M
EBITDA 27M
52 wk. range 0.35 – 1.08
EV/EBITDA 14.1
Hedge Fund Solutions, LLC © 2003 – 2017 Page 8 of 13
HEDGE FUND SOLUTIONS CATALYST EQUITY RESEARCH REPORT ™
Rockwell Medical, Inc. (RMTI)
Activist Investor: Richmond Brothers
Investor Info Catalyst Info
Shares 6,100,000 Catalyst: On March 2, 2017 Richmond Brothers nominated two candidates for election to the board and issued a press
release outlining its reasons why.
https://www.sec.gov/Archives/edgar/data/1041024/000092189517000548/ex991to13da111265002_030217.htm
Legal counsel to Richmond Brothers
% Outstanding 11.9%
Cost Basis Not Avail
Company Info
Share Price 6.00
Revenue 54M
Market Cap 309M
Enterprise Value 251M
Net Cash 58M
EBITDA -20M
52 wk. range 3.55 – 10.58
EV/EBITDA Negative
SeaChange International (SEAC)
Activist Investor: VIEX Capital
Investor Info Catalyst Info
Shares 3,875,956 Catalyst: On February 28, 2017 VIEX increased its ownership from 8.3% to 11.0%
Comment: We initially covered SEAC on April 9, 2010 highlighting Starboard Value’s (named Ramius Group at the time)
announcement that it had nominated two individuals for election to the board at the 2010 annual meeting. On
June 3, 2009 SEAC entered into a settlement agreement with Starboard. Under the terms of the agreement
SEAC agreed to appoint two new directors to an expanded board of eight members.
On September 14, 2010 Starboard sent a letter to the board of directors expressing its disappointment and
concern regarding poor margin performance in the Company’s core software business and their decision to
continue to operate non-core businesses despite having received several offers. In the letter, Starboard
demanded the board immediately engage a nationally-recognized investment bank to explore all strategic
options to maximize value for shareholders.
On December 16, 2010 SEAC entered into a new settlement agreement with Starboard. Under the terms of this
agreement SEAC agreed to appoint one more individual from Starboard to the 8 member board. In addition,
SEAC agreed to immediately establish an independent committee (called the Independent Advisory Committee)
composed of four independent directors and to be chaired by Starboard’s nominee. According to the settlement
agreement, “The responsibilities of the Advisory Committee will be set forth in the Advisory Committee’s
charter, the provisions of which will be mutually agreeable to the Company and the [Starboard] Group.”
Starboard no longer owns SEAC
On September 29, 2014 Roumell Asset management sent a letter to the board suggesting the Company increase
its buyback program http://www.sec.gov/Archives/edgar/data/1019671/000159677014000060/exhibit7-02.htm
On January 28, 2015 Roumell reduced its ownership from 6.2% to 5.5% and sent a letter to the board
supporting the new CEO, its cash-rich balance sheet, and its focus on rationalizing its R&D budget.
On September 12, 2016 VIEX disclosed a 5.5% ownership stake
On November 15, 2016 VIEX increased its ownership from 5.5% to 7.3%
On November 23, 2016 VIEX disclosed it has increased its ownership from 7.3% to 8.3%
Legal counsel to VIEX Capital
% Outstanding 11.0%
Cost Basis 2.64
Company Info
Share Price 2.50
Revenue 87M
Market Cap 88M
Enterprise Value 56M
Net Cash 32M
EBITDA -18M
52 wk. range 2.05 – 5.98
EV/EBITDA Negative
Hedge Fund Solutions, LLC © 2003 – 2017 Page 9 of 13
HEDGE FUND SOLUTIONS CATALYST EQUITY RESEARCH REPORT ™
Aberdeen Singapore Fund (SGF)
Activist Investor: Bulldog Investors
Investor Info Catalyst Info
Shares Not Avail Catalyst: Bulldog said SGF continues to trade at a wide discount (currently more than 16%) from NAV and believes the
board should consider conducting a self tender offer at or close to NAV, converting to an ETF, merging into an
open-end fund, or dissolving.
% Outstanding Not Avail
Cost Basis Not Avail
Company Info
Share Price 10.07
Revenue N/A
Market Cap 77M
Enterprise Value N/A
Net Cash N/A
EBITDA N/A
52 wk. range 8.61 – 10.14
EV/EBITDA N/A
Swiss Helvetia Fund (SWZ)
Activist Investor: Bulldog Investors
Investor Info Catalyst Info
Shares 2,017,198 Catalyst: On February 28, 2017 Bulldog submitted several shareholder proposals seeking to amend the company's bylaws
to simplify the ability of shareholders to nominate directors
Comment: On August 8, 2013Bulldog announced it intended to propose that SWZ shareholders be afforded an opportunity
to realize NAV for their shares by conducting a large self-tender offer at close to NAV, or converting the Fund
to an ETF -- which will trade in a narrow range around NAV. Bulldog also may seek to elect Directors and/or
terminate the Fund's advisory agreement. At that time, SWZ traded at a -13.73% to its Net Asset Value.
On September 23, 2016 Bulldog sent a letter to the Board urging them to open-end or liquidate the fund.
On October 25, 2016 Bulldog announced it is soliciting shareholders to call a special meeting to declassify the
board and close the discount to net asset value by authorizing a self-tender offer and/or open-end the fund.
On October 31, 2016 Bulldog sent a letter to SWZ stating that shareholders controlling 25.4% of the shares are
requesting a special meeting to vote to (a) declassify the board and (b) authorize a self-tender offer at or close
to NAV
On December 19, 2016 Bulldog demanded the board explain why it appointed a new member for a three year
term just a few hours after last year's annual meeting (instead of seeking shareholder approval). That
individual subsequently died and the vacant position was filled by a replacement director. Bulldog also
demanded the replacement director stand for election at the 2017 annual meeting.
https://www.sec.gov/Archives/edgar/data/813623/000150430416000226/thirda.txt
On December 22, 2016 Bulldog submitted a shareholder proposal seeking support to authorize a self-tender
offer at, or close to, NAV. If more than 50% of shareholders tender, the board would be required to liquidate
the fund.
On February 16, 2017 Bulldog disclosed it has increased its ownership to 7.16%
% Outstanding 7.16%
Cost Basis Not Avail
Company Info
Share Price 11.11
Revenue Not Avail
Market Cap Not Avail Enterprise Value Not Avail Net Cash Not Avail EBITDA Not Avail 52 wk. range 9.75 – 11.12
EV/EBITDA Not Avail
Hedge Fund Solutions, LLC © 2003 – 2017 Page 10 of 13
HEDGE FUND SOLUTIONS CATALYST EQUITY RESEARCH REPORT ™
Tangoe, Inc. (TNGO)
Activist Investor: Marlin Partners
Investor Info Catalyst Info
Shares 4,094,599 Catalyst: On March 1, 2017 Marlin revised its offer to acquire TNGO from $7.50/sh to formally offer $6.50/sh in
response to the company's request of final bids.
https://www.sec.gov/Archives/edgar/data/1182325/000090266417001349/p17-0781corresp.htm
Comment: We initially covered TNGO on November 16, 2015 when Vector Capital disclosed a 10.05% stake for $7.33/sh
On November 30, 2015 Clearlake Capital disclosed an 8.5% "active" stake in TNGO
On January 8, 2016 Clearlake increased its ownership to 11.77%
On January 19, 2016 Clearlake increased its ownership to 12.96% at an avg. $7.69/share
On March 7, 2016 TNGO announce it will restate FY 2013, 2014 and 3 quarters of 2015
On March 18, 2016 Marlin Capital disclosed a 7.6% "active" stake in TNGO
On March 22. 2016 Clearlake Capital increased its ownership from 12.96% to 15.95%
On April 14, 2016 Clearlake increased its ownership from 15.95% to 19.0%
On September 9, 2016 TNGO and Clearlake entered into a confidentiality agreement for the purpose of
examining a potential larger investment in the company.
https://www.sec.gov/Archives/edgar/data/1182325/000119312516706454/d257136dex992.htm
On December 29, 2016 Marlin Partners (10.4%) offered to acquire TNGO for $7.50/share in cash.
On December 30, 2016 Clearlake Capital (14.78%) and Vector Capital (9.85%) teamed up and offered to
acquire TNGO for $7.00 per share.
https://www.sec.gov/Archives/edgar/data/1182325/000119312517000265/d322988dex3.htm
Legal counsel to Marlin Partners
% Outstanding 10.4%
Cost Basis See Notes
Company Info
Share Price 6.04
Revenue 219M
Market Cap 338M
Enterprise Value 211M
Net Cash 32M
EBITDA 10M
52 wk. range 5.32 – 10.39
EV/EBITDA 21.8
Western New England Bancorp (WNEB)
Activist Investor: Clover Partners
Investor Info Catalyst Info
Shares 1,704,688 Catalyst: Clover disclosed a 5.6% stake in WNEB % Outstanding 5.6%
Cost Basis 6.80
Company Info
Share Price 10.50
Revenue 44M
Market Cap 160M
Enterprise Value 511M
Net Cash -227M
EBITDA N/A
52 wk. range 7.35 – 10.65
EV/EBITDA N/A
Hedge Fund Solutions, LLC © 2003 – 2017 Page 11 of 13
HEDGE FUND SOLUTIONS CATALYST EQUITY RESEARCH REPORT ™
CONTACT INFORMATION:
Hedge Fund Solutions, LLC
Damien J. Park
Tel. +1 215.325.0514
FREE Subscription to the weekly report:
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The Catalyst Equity Research Report™ is a general circulation weekly. Hedge Fund Solutions and/or its
affiliates (the “Firm”) may have a consulting relationship with the companies featured in this report (the
“Companies”). The Firm may also actively trade in the securities of the Companies for its own account. At
any time, the Firm, funds it manages and/or its employees or their family members may have a long or short
position in registered or non-registered securities or in options on any such security of any company mentioned in this report.
The information contained in this report is not a complete analysis of every material fact with respect to the company, industry, or security and is not an offer or solicitation to buy or sell any security. Although
opinions and estimates expressed in this report reflect the current judgment of the Firm, the information
upon which such opinions and estimates are based is not necessarily updated on a regular basis. In addition, opinions are subject to change without notice. The Firm from time to time may perform consulting services
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GUIDANCE FOR HIGH-STAKES CORPORATE SITUATIONS
Spotlight Advisors is focused on helping boards and investors with complex corporate situations. Our team of
seasoned professionals are from the most respected investment banks, law firms, investment advisory and strategic
communications practices in the country. We have experience with many varieties of corporate challenges,
including:
Principal advisors in dozens of activist situations, both for companies and investors.
Hostile takeover defense and M&A activism offense and defense
Management buyouts, valuations, high profile litigation, succession planning, complex governance issues
Clients range from Fortune 100 to small-cap companies and from large institutional investor to family
offices
Contact:
Damien Park, Managing Director
Email: [email protected]
Tel: +1 215.325.0514
509 Madison Avenue, Suite 1608
New York, NY 10022
www.spotlightadvisors.com
Hedge Fund Solutions, LLC © 2003 – 2017 Page 12 of 13
HEDGE FUND SOLUTIONS CATALYST EQUITY RESEARCH REPORT ™
PLATINUM SPONSORS – Legal Advisers
Olshan Frome Wolosky LLP is a law firm dedicated to providing personal service tailored to the specific
requirements and concerns of the firm’s clients. Olshan is widely recognized as a preeminent law firm in the activist
strategy area, and represents experienced activist investors, funds new to the activist area, as well as other
investment and hedge funds. Olshan has extensive experience advising clients in a wide range of activist strategies,
from private negotiations with management to public, high profile proxy contests, including expertly and efficiently
handling litigation relating to activist matters. We also specialize in mergers and acquisitions and hostile takeovers,
with extensive expertise in these matters. Olshan’s highly regarded attorneys provide a full range of legal services
and are uniquely positioned to provide expert advice regarding the complicated and nuanced legal issues facing
activist investors today.
Contact:
Steve Wolosky, Partner
Email: [email protected]
Tel: +1 212.451.2333
Schulte Roth & Zabel LLP (SRZ), renowned for its shareholder activism practice, has served as longtime counsel
to influential activists and has been involved in some of the highest-profile campaigns facing the business world in
recent years. With over 375 lawyers in offices in New York, Washington, D.C., and London, SRZ has a long history
of serving private equity and hedge fund clients. In 2014, SRZ expanded its shareholder activism practice into the
United Kingdom, where the firm has had a London office since 2002. Serving both activist-only and occasional
activists, the firm has unparalleled expertise in the applicable corporate laws, securities laws and proxy rules on both
sides of the Atlantic. SRZ lawyers also handle investigations and litigations arising out of activists' activities.
Contact:
Marc Weingarten, Partner and Co-chair of SRZ's global Shareholder Activism Group
Email: [email protected]
Tel: +1 212.756.2280
Eleazer Klein, Partner and Co-chair of SRZ's global Shareholder Activism Group
Email: [email protected]
Tel: +1 212.756.2376
Hedge Fund Solutions, LLC © 2003 – 2017 Page 13 of 13
HEDGE FUND SOLUTIONS CATALYST EQUITY RESEARCH REPORT ™
PLATINUM SPONSORS – Proxy Advisors
Innisfree M&A Incorporated is a full service proxy solicitation/investor relations firm providing clients with
sound tactical and strategic advice and results-oriented implementation in proxy and consent solicitations (whether
friendly or contested), tender and exchange offers, mergers, rights offerings, strategic restructurings and other
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Innisfree’s reputation derives from our success in complex and/or contested situations. Key to that success is our
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Contact:
Arthur Crozier, Co-Chairman
Email: [email protected]
Tel: +1 212.750.5837
MacKenzie Partners, Inc. is a full-service proxy solicitation, investor relations and corporate governance
consulting firm specializing in mergers-and-acquisitions related transactions. The firm has offices in New York
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MacKenzie's services include corporate governance consulting, security holder solicitations, information agent
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Email: [email protected]
Tel: +1 212.929.5239
![ROBERT JAMES ELLIOTT CURRICULUM VITAE CITIZENSHIP ...haskayne.ucalgary.ca/.../robert-elliott-cv.pdf · R.J. Elliott – CV [September, 2006 - Page 1] ROBERT JAMES ELLIOTT CURRICULUM](https://img.pdfslide.net/doc/110x75/5fdc51cfa239fb15507e657b/robert-james-elliott-curriculum-vitae-citizenship-rj-elliott-a-cv-september.jpg)
